SLS Sapphire

SLS Developers has announced the launch of its new project SLS Sapphire on 28th June 2013 located Off Marathahalli – Sarjapur Outer Ring Road. SLS Sapphire will offer 2 & 3 BHK luxury apartments. The project is approved by BBMP.

Take the poll – Is SLS Sapphire a good investment?

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I am planning to book a flat in SLS-Sapphire, reading the reviews here and on Mouthshut about SLS , I am confused. Are the people who have booked house in Sapphire satisfied with the progress ?
Seeing lot of complain against them in terms of Completion of Project, Amenities, No proper finishing Kahta … Did any one talk to previous SLS project flat owners ? Its tough to find builder is good or bad, and its our hard earned money.
They are charging a big money for Amenities, is it worth

I had gone for a site visit this week and liked the apartment because of the location, site plan, floor plan and amenities. Also SLS builders have several other completed and ongoing projects. The SLS guy whom we talked to quoted Rs. 3500 psft and was not ready to negotiate at all. However he sounded very confident and firm when he said that it will be zero deviation project and OC will be provided. But he said that they are applying for the CC along with OC, which means that I will not be getting the CC during booking.

I was not sure whether it is okay to go ahead with the booking if they do not provide the CC when I pay the booking amount. Please suggest.

Is it a good idea to finalize on this apartment at the given quoted rate with respect to location prospect (I am confused between Panathur and Whitefield), builder commitment and ethics etc.?

What are the things that I need to check before paying the booking amount?

Also what are the documents/ certificates that I should be asking for before and after the booking related to land history, approvals etc.?

Is the builder liable to provide any document whatsoever before I pay the booking amount?

I am a first time home buyer and any suggestion on any of the above concerns will be appreciated.

I’ll try to answer some of your questions, and let you decide on what you would like to do.

I have booked a flat in SLS Sapphire about six months back, even then the rates were non-negotiable. The rated quoted by SLS has always been non-negotiable. So, i don’t think they will any different now.

On the CC and OC front, yes, I also got the same information. But, I was shown Occupation certificate of their previous projects which gave me confidence to go ahead. The construction speed has been good since the days I booked and i do not see any apparent deviation. The project is also approved by HDFC, LIC and SBI. I also legal opinion from the SBI lawyer which showed it was approved. You could request the same if and when you make the booking.

Before booking, you could visit their projects and take the owners views if you would like. As far as the documents are concerned, they will provide you with all the relevant documents once you pay the booking amount and not before. With the provided list of documents, you could take a legal opinion from your advocate if you would like.[I did and my lawyer gave a go ahead]. If your advocate demands additional document, feel free to request SLS sapphire contacts.

I personally feel the location is apt to get decent returns since, it has several IT parks close by.

Hai Madhan,
Thank you for your comment.This is Mohammed Asharaf from USA.I am planning to book and apt in SLS Sapphire.It is very difficult for me to check about this project in detail (especially legal docs, about builder…)from here.It would be really helpful for me if you can share your contact number , so that i can give you a call to discuss. And also please let me know your convenient time.

Thanks Madhan for your detailed reply, it definitely helps. We are going today with my father-in-law and if he likes it we’ll go ahead with the booking. Can you please provide the details of your lawyer since we don’t know of any. BTW which flat have you booked?

Thanks Harsh! What I have seen is that OC is compulsory but CC is not. So I guess it should be okay. Also construction has started long time back and completion is in August. So it shouldn’t be a problem.

Location wise the project is good close to ORR and close to residential projects like Nitesh and Vaswani, price is reasonable, my lawyer said okey on legal papers, They are issuing occupancy certificate from BBMP, I like the project and purchased a flat.

I liked the project as it looks genuine. Whatever they have mentioned in the brochure, they are promising to put in the agreement. I booked a flat last month. Anyone has verified the documents from a lawyer???

Location wise, the project is good for investment but somewhat I did not like the construction quality. Specially the Pillars, they are too thin to sustain earthquakes. I am no Civil Engineer but thats what my understanding is, your support has to be good enough to sustain shakes. I would say, ppl who are staying in there apartments will be the best ppl to tell us how there properties are.

This project got approved by SBI. There is no legal problem looks to be. Also they will get OC. Location is also good well connected. Floor plan is good and spacious. Ive seen spencer project and quality found good only. But I have seen some bending in the parking floor slab in B block and 2 places beam bending in A and B block parking floor. Can any one suggest how severe it has to be considered at this very earlyfoundation level. Or Is this a very common ptoblem ? This is the only worry for me pls advice on this.

good location but poor quality. wont prefer to buy. i bought one in sls slpendor and sold it. though i got profit (credit goes to bangalore real estate business). sloppy work and finishing is biggest issue/concern.

I’m still verifying the documents, my advocate is out of town. But I saw the SBI legal opinion on this project and it was clean. So, I’m guessing my advocate should also give a clean slate. Fingers crossed.

Hi,
I am a proud owner of flat 111, Block B in SLS Sunrise. The quality and committment of SLS is excellent. They had water seepage issue in their previous project, which they have repaired and rectified with Additional Coating of water proof layer. They have done the same in SLS Springs. Being in construction industry, i can vouch that they are among very few builders in Bangalore to use Apex Ultima, (the best paint available), Gyproc plaster (Best form of plaster from Saint Gobain) for their projects, Even builders like sobha, brigade, prestige uses just Apex and normal cement plaster. They are good mid size builder and definitely you get value for money here.

Is anybody signed initial agreement with builder?
payment of 20% during agreement is negotiable lie +/- 5-10 %?

As per payment schedule close 80-90% amount paid by just finishing plastering work.
but, after plastering only lot of internal flooring/bathroom/electricity/finishing works will be done, which is close to 30-40% project work. Is it realistic to pay 90% amount in advance ?

Over and above, there no payment clause for delay in construction….

They are using Robo Sand and TEJA bricks for construction activity, is anyone aware of quality of these materials?

Hi Giri,
Yes, I see it is overpayment to be done by customers. I agree that construction is in progress then, there is no guarantee that project will not be delayed from now, until there is a delay clause.
I see the near by project SV Brindavan is better option than this, though it is around 300/- high, considering its location near to mainroad, open space in the project, floor plans etc.

I agree, Having no delay clause in the agreement could be dangerous, but these are now becoming norms(so to call) that most builders are following. The payment schedule is steep, but again most builders tend to follow these guidelines. I was told that since SLS projects do not have pre-launches and they raise several slabs before they start taking bookings, these payments schedules are steep.

SV Brindavan appears good, but faces the same problem of steep payment schedule and also with completion date late into 2015.

Payment Schedule
Booking Advance 2,00,000/-
20% at the time of agreement
20% on completion First Slab
20% on completion Third Slab
20% on completion Fifth Slab
10% On completion of Brick Work
5% On completion of Flooring
5% at the time of handing over possession of the flat in question

The best price i heard for SV Brindavan was 3800, which makes is 350Rs(Yes,much closer to the ORR) more.

I’m not here to suggest one being better over the other, just sharing my thoughts on these two projects with the limited knowledge I have about these.

Thanks Bala. I have still not reached the agreement stage, I’m taking my time to legally verify the documents before I proceed. I still have not received any opinion, and will meet up with my lawyer tomorrow to address some clarifications. Once, I obtain a positive legal opinion, I’ll have to talk to them to about the Agreements details.

i purchased flat in sunrise, the project is under construction. since booking i observed the material used and the quality of work is good. The elevation shape is as same as brochure. the outside paint is not yet started.. the project is good no issues.

I have seen the quality of construction of the nearby project SLS Sunrise…….it is pathetic. Materials used are of cheap quality and very unskilled labour force. The steel bars are thin and of poor quality, so is cement and the brick work is pathetic. Finishing is very bad. Moreover, the toilet is not at same level with rest of the house flooring but at a 7 – 8 inch height above flooring of rest of the house……of the type used in very cheap, old houses. You can see cheapness and cost cutting in every aspect of the construction. The elevation and outer looks of is also not as per shown in the brochure…..it looks different due to cost cutting. Moreover, in terms of cost, even if the basic price is Rs. 3399, the builder is taking about 12 Lacs extra for amenities, car park, BWSSB, tax etc. which is HUGE compared to other builders. So the Rs.3399 price actually turns out to be about Rs.3700 psf.

Hi Madan,
What is the downpayment they are flexible up to. Is there any parallel funding option available with him or one must pay 20% in the begining. I see there are lot of extra charge other than psft price. Did they give you complete cost break up of each component.

Hi Bala, I do not see any parallel funding option. Right now, the project is approved by LIC HFL and they are expecting SBI to provide final approval anytime now. Their payment schedule is as below.

Payment Schedule
Booking Advance: 1,00,000
At the time of Agreement with in One week (less booking advance) 20%
At the time of Foundation: 30%
At the time of Ground Floor Slab: 10%
At the time of Concerned Flat Slab: 15%
At the time of Brick Works 15%
At the time of Plastering : 5%
At the time of Final Registration : 5%

While i am typing this message, i do not have the break up details handy, however, if my memory serves me correctly, the figures looks like below.

Hi madan,
If I undestand correctly, since they already have 2 or 3 slabs completed, they readily get 75% of the money(due to 30% for ground floor slab) from us and now we start paying huge emi right from the begining.

Unless there is a penalty clause builder is giving in agreement, we end up in paying huge pre-emi, in case there is delay happens.

All these builder are playing like anything with buyers money. Even the terms they make also one sided, no transparency from both sides..

Hi Bala, That is my understanding as well. Based on the reviews of the builder, it wont be a bad idea trying to get a delay clause into the agreement. Yes, as far a paying EMI is concerned, I think it would be better to start paying full EMI as opposed to pre-EMI as several slabs are already raised, hence if we choose the Pre-EMI option, we will be paying high EMI(~60-70%) just only as Interest, instead 100% EMI is better, so it cuts down the principal as well.

Also, I am not getting clear details about the UDS, the builder mentions that they are yet to get the figure this out from the advocate. They are expecting to tell me this tomorrow.

Additional details, i have got is that, even though the builder shows proof of OC that they received for other projects, they are hesitant to get this into the agreement, so we may end not getting the OC as well.

online comments will be there for every builder who done many projects, it is common and i don’t fully depend on this so i am planning to go their near by completed projects like sls splender and sls sunflower, Any one can suggest!!!?

I visited the site and physically seen amenities location and the space is good enough for each amenity, the jogging track is more then 100mts they have a huge area for kids play/landscaping separately at the end of B block, i like the project.

I have seen the project, I liked the project, the price they are quoting is 3399(non-negotiable)
There is sufficient open space in the project specially between block A and block B.(comparing here only with other midrange builders)
I have seen some negative feedback about the build quality of this builder online,
but when we talked to some of the other residents of his project (sls splendor etc) we got a decent feedback about the build quality, and they said his paper work was clean.

One thing I feel not comfortable in this project is, the space allocated for amneties. This project itself does not have much open space. If you see the jogging track, tot-lot, senior citizen area, they are provide in minimum area where they found some space between in between the flats. There is no particular considerable open space allocated to amenties. It just remembers me the svs palms projects in marathahalli.

Second thing is the approach road from panathr main road. There are lot of apartments coming up in that 30/40 FT road. So it is going to be too crowded to come out of it and the ambience around that area also does not looks very impressive, being village houses around.